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TV advertising is undergoing a once in a generation change and this is great news for retail and FMCG brands. We have all read the way people are watching TV is changing. As viewers, we snack on our favourite shows rather than watching swathes of evening TV. For example, you might always watch The Block Reveal on Sunday night but skip the mid-week episodes.
This ability to snack, catch-up and watch TV on-demand is driven by technology as households use outside antennae less, and instead connect to the Internet to watch TV. The reality is most households don’t know or care where their TV is coming from. Chances are if you are under 30 you don’t even have a relationship with that thing on the roof.
The huge shift to people preferring the viewing benefits of TV delivered by the internet is in turn opening up new TV advertising opportunities for retailers and brands, large and small. In fact, over 14 million Australians view internet delivered TV each month, watching over 2.5 billion minutes a week (https://thinktv.com.au/facts-and-stats/bvod-consumption/).
This next generation of media consumption and advertising delivery is called Connected TV. It refers to households watching long form video content on large screens within households. And not only is viewership booming. Price Waterhouse forecasts that 25 per cent of all Australian TV advertising, that is almost $1 billion, could be booked as connected TV by 2024.
When people watch TV via the internet (and provide details about themselves to gain access) we know a lot more about them, just like your current social media or YouTube investment. You know where viewing audiences are, what they like to watch, and what life stage they may be in. From there we can make accurate assessments of what products and brands they prefer to buy.
In this new world where TV can be targeted down to individual postcodes and household profiles, there are new marketing opportunities. TV is now accessible to brands that previously couldn’t justify the investment. And critically results can be measured by actual “views” of your advertisement and not simply broad “reach.”
For example, franchise groups can target communities around their outlets rather than buy TV across an entire region or city. Retailers can deliver truly personalised TV messaging to different target audiences or suburbs. So Connected TV is a game changer in opening access to TV for retailers and brands, and understanding and measuring success.
As with all high-growth advertising markets advice can vary widely depending, for example, on what content publishers and TV networks must sell.
EngageTV is Australia’s independent connected TV service partner with an end-to-end solution that makes sense of the options available. EngageTV helps advertisers contact their audiences across the entire connected TV landscape including all TV networks, new channel initiatives from Amazon and Ebay and even ethnic channels with enormous traffic in Australia. And because it is targeted TV it is affordable also. It really is a case of the internet meeting the big screen.
For more information, visit www.engagetv.com.au.